Canada Wheat Stocks Fall 26.8 Percent

Canadian wheat stocks fell by 26.8% to 5.2 million tons in July, compared to the month last year, according to estimates released Wednesday by the government agency Statistics Canada.

No estimates were provided for corn or soybean stocks.

Wheat commercial stocks dropped 29.2% to 3 million tons and farm stocks fell 23.1% to 2.2 million tons. Alberta had the largest decline of on-farm stocks, down 44.4% to 495,000 tons. Saskatchewan followed, with a 14.7% decrease of 1.5 million tons.

A Reuters poll had put average trade estimates at 3.3 million tons of wheat. Canadian exports have been helped by a cheap Canadian dollar, according to analysts.

Total barley stocks increased 18.6% to 1.4 million tons and oats also were up 38.2% at 930,000 tons. Oats stocks rose 38.2% to 930,000 tons.